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Manasquan Bank Announces Completion of Bank Merger

April 01, 2019

Manasquan Bank announced today that, pursuant to the terms of the Agreement of Merger, dated as of November 20, 2018, between Manasquan Bank and Metuchen Savings Bank, it has completed the merger of Metuchen Savings Bank with and into Manasquan Bank, effective April 1, 2019.

“We plan to continue Metuchen’s rich history in Middlesex County which began in 1897 by operating Metuchen as a division of Manasquan Bank.The preservation of the Metuchen name is truly symbolic of our full commitment to make the merger a seamless transition for clients of Metuchen Savings,” said James Vaccaro, Chairman, President and CEO of Manasquan Bank.Mr. Vaccaro went on to say “Our merger of Metuchen Savings Bank into Manasquan Bank is the final step in the series of mergers with Metuchen that we announced in May of 2018, and has created a strong strategic and financial alliance that has enhanced Manasquan Bank’s presence in New Jersey.”

A systems conversion is scheduled for the weekend of May 17, 2019.Upon completion of the conversion, clients of Metuchen Savings Bank will be fully integrated with, and have access to, the full suite of Manasquan Bank’s products, services and delivery channels.”

Jones Walker LLP, Washington, D.C., served as legal advisor to Manasquan Bank and McCarter & English served as legal advisor to Metuchen Savings Bank.